FSCA — South Africa
ONAM TRADING (PTY) LTD
Regulated · No. 51105
TotalFX Review — Overview
Regulation
Tier-2 regulated
Licence
FSCA · No. 51105
Licence status
Regulated
Platforms
cTrader, MT5
Max. leverage
1:1000
Instruments
Forex, shares, indices, cryptocurrencies
Typical spread
From 0.0 pips
Operating
Est. 2000
Main market
IT
Entity
ONAM TRADING (PTY) LTD
Website
Unknown
TotalFX is a forex & CFD broker based in South Africa, established in 2000. On Trust Broker Hub it holds a Trust Score of 6.4 out of 10, which we rate as Fair — above the 5.3/10 average for brokers that hold a verified licence. Mixed profile — check regulation and conditions before depositing.
TotalFX's licence comes from an offshore jurisdiction (FSCA). Offshore regulation is far lighter than tier-1 oversight from bodies like the FCA (UK) or ASIC (Australia): there is usually no compensation scheme, and recovering funds can be difficult if the broker runs into trouble. Treat it with extra caution and verify the licence on the regulator's own register.
TotalFX provides access to Forex, shares, indices, cryptocurrencies. Published conditions include leverage up to 1:1000. No complaints are currently on record. Overall, TotalFX has a mixed profile: check its regulation and conditions carefully before depositing.
Trust score breakdown
How is this calculated?
Weighted total
7.50
Data completeness
7 of 10 facts verified
70% ×0.85
Trust Score
6.4 / 10
Trust Score history
TotalFX currently scores 6.4/10. The trend line will build here as the Trust Score is re-evaluated over time.
Pros
- Holds a FSCA licence
- No unresolved complaints on record
- Listed in our verified broker directory
Cons
- Offshore-only regulation with weaker investor protection
- Always verify the licence directly before depositing
Regulation
Tier 2 · Mid
Verified
Offshore (tier-3) regulators typically have lower capital requirements and no compensation scheme. Funds may not be protected if the broker fails.
Trading conditions
| Instruments | Forex, shares, indices, cryptocurrencies, metals, energies, ETFs, soft commodities |
| Minimum deposit | Not disclosed |
| Maximum leverage | 1:1000 |
| Typical spread | From 0.0 pips |
| Platforms | cTrader, MT5 |
| Demo account | / |
We mark unverified fields as “Not disclosed” rather than estimate them.
Our verdict on TotalFX
Our analysis · editorial
6.4/10
A mixed risk profile
TotalFX is regulated under a mid-tier authority (FSCA). Based in South Africa, it has been operating for about 26 years. We have no complaints on record against it. Weighing regulation, track record and complaint history, our Trust Score is 6.4/10 — a mixed profile.
Strengths
- Holds a recognised mid-tier licence (FSCA)
- Long 26-year operating track record
- No complaints on record with us
- Supports cTrader & MT5 trading
Watch-outs
- Very high leverage available (1:1000) — amplifies risk
Bottom line: Proceed with caution: start with a small deposit and test a withdrawal early.
This is Trust Broker Hub's data-driven editorial assessment — not a user review. It is generated automatically from regulation, licensing, company age and complaint records, and updates as those change.
User reviews
5 0
4 0
3 0
2 0
1 0
TotalFX — Questions & Answers
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Complaints & alerts
No complaints or regulator warnings on record
We monitor regulator alert lists and user reports. We'll flag TotalFX here if that changes.
Full specifications
Regulated region
South Africa
Operating period
2-5 years
Main market
IT
Licensed entity
ONAM TRADING (PTY) LTD
License status
Regulated
Instruments
Forex, shares, indices, cryptocurrencies, metals, energies, ETFs, soft commodities
Year founded
2000
Frequently asked
Is TotalFX a safe broker?
TotalFX scores 6.4 / 10 on our Trust Score, above the 5.3 average for brokers that hold a verified licence. It is only offshore-regulated, which means weaker protection. It has no complaints on record with us. Trade only with funds you can afford to lose.
How is the TotalFX trust score calculated?
The score weighs five factors: regulation tier, transparency of disclosures, operating footprint, user sentiment, and complaint history. Each is scored out of 10 and combined into the overall figure shown at the top. Read our methodology.
What does "offshore regulated" mean?
It means the broker's licence comes from a jurisdiction with lighter requirements than tier-1 regulators like the FCA or ASIC. There's usually no compensation scheme, so recovering funds can be difficult if the broker fails.
Can I withdraw funds easily from TotalFX?
TotalFX publishes some trading terms, but always confirm withdrawal fees directly. Test with a small amount first and document every transaction.